TechFlow news: On March 21, according to Cailian News, gold’s rebound was short-lived, forming an intraday “inverted V” pattern—prices dropped over 5% from the day’s high and broke below the critical support level of $4,500. This week, gold plunged over 10%, reaching a seven-week low and posting its largest single-week decline since March 1983.
As of Friday’s (March 20) New York close, spot gold fell 3.42% to $4,491.67 per ounce, down over 10% for the week; COMEX gold futures declined 2.47% to $4,492 per ounce, down over 11% for the week.
Spot silver dropped 6.8% to $67.897 per ounce, down over 15% for the week; COMEX silver futures fell 4.78% to $67.810 per ounce, down over 16% for the week.
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